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UK’s priciest home goes on sale for $380m

Mansion that is stone’s throw from Buckingham Palace said to be owned by Saudi royal

18 Carlton House Terrace, London, is said to be currently owned by a member of the Saudi Arabian royal family.

By Daniel Shane

Tue 23 Apr 2013 02:39 PM

A London home reportedly valued at £250m ($380m), making it the most expensive in the UK, is to go on sale.

The Grade I-listed, 19th century mansion is within walking distance of attractions including Buckingham Palace and Piccadilly Circus and boasts around 50,000 sqft of living space.

The property, located at 18 Carlton House Terrace, is said to be currently owned by a member of the Saudi Arabian royal family and is described in its sales brochure as “probably the finest residence in London”.

The house, which is located in the St James’s district in the City of Westminster, reportedly includes a sizeable ballroom and grand double staircase.

In September last year, a London home formerly owned by the Crown Prince of Saudi Arabia was put on the market at £300m. The price of the property at Rutland Gate, which overlooks Hyde Park, was however lowered after it struggled to attract a buyer.

According to date from real estate firm Savills, more than 400 luxury properties in the UK valued at £5m or more were sold during 2012, up from 350 the previous year.

Overall, average house prices in the UK fell 1 percent in 2012, figures from bank Nationwide showed.